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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net Sales $ 5,413,281 $ 5,374,800 $ 4,616,377
Cost of merchandise sold (4,394,919) (4,379,541) (3,749,736)
Gross Margin 1,018,362 995,259 866,641
Selling, general and administrative expenses (871,374) (822,678) (753,988)
Depreciation and amortization (32,449) (33,140) (39,725)
Other income, net 33,143 3,769 4,608
Income from Operations 147,682 143,210 77,536
Interest expense, net (2,234) (10,021) (8,062)
Income before provision for income taxes 145,448 133,189 69,474
Provision for income taxes (58,850) (51,298) (27,181)
Net Income 86,598 81,891 42,293
Less: Net income attributable to noncontrolling interests (307) (466) (295)
Net Income attributable to Graybar Electric Company, Inc $ 86,291 $ 81,425 $ 41,998
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock $ 5.54 [1] $ 5.27 [1] $ 2.73 [1]
[1] Adjusted for the declaration of a twenty percent (20%) stock dividend in December 2012, shares related to which were issued in February 2013. Prior to the adjustment, the average common shares outstanding were 12,876 and 12,812 for the years ended December 31, 2011 and 2010, respectively.